OK. So now it's Monday and you're wondering what's all the hoopla? First of all, I've got to apologize for not giving you a heads up sooner. I noticed some unusually low stashes of peanut butter in the stores this week, but had no idea why? In two of the big warehouses here, the mainstream peanut butter was gone. I asked a few questions but ran into nothing. So I just shrugged my shoulders and went on. Then I heard the news and it made perfect sense. So I apologize for not getting on the bandwagon early on. For those of you in the East, your prices actually started skyrocketing relatively quickly last week. (and yet none of you mentioned that to me. *grin*) Those in the West should expect your first painful jump of 40% today unless they store owners are kind enough to wait until they actually have to bring in the 50% higher product. Yes, I said 50%. It's no secret that prices are rising everywhere. So yes, peanut butter was bound to increase. But the problem this year is that due to the crop failures, were looking at only HALF of our normal yield! This means that the stabilized price for the next year will be AT LEAST 50% higher than it's been previously and that's before we count the additional costs of increase that are now the norm. Also, keep in mind that you're not likely to see the prices come down significantly even IF things get back to normal. Our Peanut Butter/Peanuts/Peanut oil purchases at this level will show them just how far they can put the American public. So why come down and lose rich profits if you don't have to? *sigh*
So, if you have an opportunity, pick up some peanut butter, peanut oil, or even just peanuts if they are on your hot list. They sure are in my home. But the good news is, we purchased so much peanut butter at Winco this past Saturday that we got a free 18 pound turkey. The only bummer is though that I LOVE deep-fried turkey and the peanut oil had already increased quite a bit. *sigh* Win some lose some. Here's a video news clip on the scenario. Peanut Butter Price Spikes From Crop Failure
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